Oil climbs on supply concerns

Producers and consumers need to cooperate to maintain global gas supply security in light of escalating geopolitical tensions, as highlighted in a new IEA report. The demand for natural gas is growing faster in 2024 compared

Oil prices increased on Thursday as concerns about a potential escalation of conflict in the Middle East took precedence over the outlook for stronger global supply. This heightened apprehension about crude oil flows from the region,

Uruguay’s state-owned oil company and regulator, Ancap, has approved Challenger Energy’s farm-out of the AREA OFF-1 licence to Chevron. The approval, granted in March 2024, marks a major step forward for the partnership between Challenger Energy

Oil prices experienced a modest rise on Monday, following last week’s U.S. interest rate cut and a reduction in crude supply caused by Hurricane Francine. These factors balanced out weaker demand from China, the world’s largest

Oil prices rose slightly in Asian markets on Monday, driven by expectations of a U.S. interest rate cut. However, these gains were limited by ongoing concerns about demand and weak economic data from China. Brent crude

Oil prices saw an increase on Thursday as concerns arose over possible supply disruptions in the United States due to Hurricane Francine. The storm, which made landfall along the US coast, continues to move further inland,

Oil futures experienced a near 1% increase on Monday, as an approaching hurricane in the U.S. Gulf Coast region helped prices recover after significant losses the previous week. Brent crude rose by 67 cents, reaching $71.73

Oil prices stabilised on Thursday, showing slight gains after hitting multi-month lows. This upward movement was driven by a potential delay in production increases from OPEC+ and a significant decline in U.S. oil inventories. However, lingering

Oil prices saw a modest recovery on Thursday after two consecutive days of decline, as concerns about supply disruptions in Libya resurfaced. Brent crude futures inched up by 3 cents to $78.68 a barrel, while U.S.

Oil prices experienced a significant rise of approximately 3% on Monday, driven by reports of a near-total halt in production in Libya, which added to existing concerns about potential disruptions in Middle Eastern oil supplies. By

Oil prices stabilised on Thursday after a drop in U.S. fuel inventories provided some support, following four consecutive days of decline driven by investor concerns over global demand. By 1330 GMT, Brent crude had risen by

Oil prices continued their upward momentum for the fifth consecutive session on Monday, building on the previous week’s gains of over 3%, as concerns about a US recession subsided and ongoing geopolitical tensions in the Middle

Oil prices saw mixed movements on Tuesday as heightened concerns over the Middle East conflict and reduced output at Libya’s largest Sharara oilfield raised fears of supply constraints. The potential for tight supplies was tempered by

Oil prices rose on Monday, recovering some of last week’s losses, due to fears of escalating conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights. Both Israel and the United States

Crude oil prices have started the week with gains, buoyed by hopes of a rate cut and recovering from a second consecutive weekly loss posted last Friday. The significant news at the beginning of the week

Oil prices surged about 2% on Wednesday, driven by a larger-than-anticipated decline in U.S. crude stockpiles and a weaker U.S. dollar, which outweighed concerns about slower economic growth in China. Brent futures increased by $1.35, or